E3-5 Disclosure of consolidated dividends On December 31, 2016, the separate-company financial statements for Pam...
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Accounting
E3-5
Disclosureof consolidated dividends
On December 31, 2016, the separate-company financial statements for Pam Corporation and its 70 percent-owned subsidiary, Sun Corporation, had the following account balances related to dividends (in thousands):
Pam
Sun
Dividends for 2016
$ 2,400
$ 1,600
Dividends payable at December 31, 2016
$ 1,200
$ 400
Required
1. At what amount will dividends be shown in the consolidated retained earnings statement?
2. At what amount should dividends payable be shown in the consolidated balance sheet?
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